Please wait while the page is being loaded Skip this advertisement >
Thursday | 4 December, 2008
SCO gets 'potential' $US36M offer to sell Unix business
Other bids could come in; sale must be OK'd by bankruptcy court
Todd R. Weiss 25/10/2007 08:10:28

While still fighting in the courts and fresh from filing for Chapter 11 bankruptcy protection last month, The SCO Group could soon be selling its steadily-declining Unix business.

In a filing in US Bankruptcy Court in Delaware, the Lindon, Utah-based company said it had received a "potential" $US36 million offer for its Unix business from JGD Management, an umbrella business of New York-based investment firm, York Capital Management. The filing has been posted on the Groklaw.com website, which has been tracking the legal records of the ongoing lawsuits between SCO, IBM, Novell and others. In it, SCO reports that the offer includes money for its Unix business, litigation claims and for litigation expenses.

The bid is subject to approval by the bankruptcy court, according to the filing, and competitive bids could still be accepted from other potential buyers.

SCO filed for Chapter 11 bankruptcy reorganization last month as it began seeking ways to stay in business amid mounting expenses and several legal rulings that have hurt its legal fights with IBM and Novell.

If SCO gets out of the Unix business, it would continue solely as a mobile application platform vendor, which it has been working to become over the last several years.

A SCO spokesperson could not be reached for comment about the buy-out offer.

A spokesperson for York Capital Managament declined to comment on the matter.

Three weeks ago, in an interview with Computerworld US, SCO CEO, Darl McBride, said his company would continue to make moves to remain a viable business, despite the death knells sounded by some critics.

According to the terms of the York offer, approval of the deal is required from the bankruptcy court by November 9, with the transaction needing to be completed by December 7.

Additional Resources
Executive Guides
Whitepapers
Zones
Zone logoZones provide focussed content from Computerworld and leading technology partners.
Newsletter Subscription
Sign up for our Computerworld newsletters!
RSS Feeds
Market Place

 

Smart SOA World Tour

Discover how SOA can create smarter outcomes for your business.

Attend and learn:

  • How SOA is helping leading companies to become more agile
  • Where you should be applying SOA processes in your company
  • The top SOA implementation mistakes to avoid

Click here for more information.
Whitepaper

The state of Middleware

Middleware delivers unprecedented visibility and control over your business by making timely information available to decision makers. Organisations are using Middleware to leverage their existing IT investments, while optimizing their IT and business operations, securing their infrastructure and driving compliance. Read on to discover how Middleware can help you increase your businesses profitability.

Enterprise IT Buyer's Guide
Find Technology Vendors Fast
 
Find vendors by name | Find by category
Sponsored Links